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Overview: oil for the week fell by 12%, the ruble is trying to stay at the peak of the tax period

Forex Club 21.12.2018 at 12:33

The Price of oil (February futures for Brent crude) on Friday 21 December to 14.56 GMT were down 2.1% to 53.22 per barrel. Earlier Friday, oil prices have updated the minimum since September 2017 – at the level 52,92 USD. For the week, oil fell by more than 12%.

the Market of "black gold" remains under pressure from concerns about tightening of monetary policy of the fed in 2019. Additional pressure on the ruble comes from the risk of an oversupply in 2019 of commercial oil stocks in OECD countries.

the day the Ruble against this background, weakening the dollar and slightly adds to the Euro, reflecting the slide of the European currency on the forex in the direction of 1.14 per dollar. The declining price of oil sets the trend for the weakening of the ruble before the weekend. However, the proximity of the peak of the tax period December to next week already has the support of the Russian currency, as it will increase the demand for ruble liquidity.

In summary, the "American" to 14.54 GMT increased from the start of trading by 0.4% to 68,54 of the ruble, the Euro was down 0.06% to 78,28 of the ruble. The ruble price of a barrel of Brent crude has slipped around 3.65 thousand. Until the end of the day, the U.S. currency will be in the range of 67.9-69.1 per ruble, the Euro – in the corridor 77,6-79 rubles.

Market, USA, dollar, oil, ruble, Forex club

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